Braze well positioned to sustain 20% growth, says DA Davidson

DA Davidson keeps a Buy rating and $55 price target on Braze after meeting with its management team. The firm has come away with a better understanding of the company’s competitive edge relative to legacy vendors as well as the company’s thinking around the trajectory of dollar-based net retention rate, the analyst tells investors in a research note. DA Davidson maintains that Braze is a high quality growth company well positioned to sustain 20+ growth once ZIRP-related renewal headwinds subside, the firm added.